Cover of Entrepreneurial Finance by Janet Kiholm Smith and Richard L. Smith
Entrepreneurial Finance
Venture Capital, Deal Structure & Valuation, Second Edition
Janet Kiholm Smith and Richard L. Smith


July 2019
640 pages.

Cloth ISBN: 9781503603219



This text prepares readers for a wide variety of situations that stakeholders confront in an entrepreneurial venture, teaching them how to think from the investor and entrepreneur's perspective. Readers will find a unique and direct focus on value creation as the objective of each strategic and financial choice. The authors specifically address the influences of risk and uncertainty on new venture success, devoting substantial attention to methods of financial modeling and contract design. Finally, they provide a comprehensive survey of approaches to new venture valuation, with an emphasis on applications.

The second edition is thoroughly revised to reflect new data, research, and changes in practice in this fast-moving field. It has an increased focus on venture capital, while maintaining its hallmark coverage of the financial aspects of entrepreneurship. Updates throughout address technological changes that have the potential to dramatically change the landscape for finance. These include: blockchain, cryptocurrency, crowdfunding, artificial intelligence and machine learning, and internet connectivity (loT).

Lastly, the book offers a companion website with a useful suite of resources for students and instructors alike, including: spreadsheets, templates, simulation applications, and interactive cases and tutorials.

About the authors

Janet Kiholm Smith is the Von Tobel Professor of Economics at Claremont McKenna College.

Richard L. Smith is Philip L. Boyd Chair and Professor of Finance and Management Science and Chairman of the Department of Finance and Management Science at the University of California, Riverside.